You are here: Home » Markets » News
Business Standard

Dixon Technologies rebounds 8% from day's low on stock split plan

The company's board is scheduled to meet on February 2, to consider sub-division of equity shares of the Company from Rs 10 paid-up.

Topics
Dixon Technologies | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

global, economy, market, stocks, investments, investors, m-cap, growth, gdp

Shares of (India) moved higher by 4 per cent to Rs 15,180, bouncing back 8 per cent from the day's low of Rs 14,090, on the BSE on Thursday after the consumer electronics company announced stock split plan.

on Thursday said its board is scheduled to meet on February 2, to consider sub-division of equity shares of the company from Rs 10 paid-up to in such manner as may be determined by the board of directors. The board will also to consider and approve unaudited financial results of the Company for the quarter ended December 31, 2020, it said.

Generally, a company plans to go for a stock split to make the shares more affordable for small retail investors and increase liquidity. In the past one year, the stock of has rallied 251 per cent as compared to an 18-per cent rise in the S&P BSE Sensex. In past six months, it surged 129 per cent, against 38 per cent gain in the benchmark index. The stock hit an all-time high of Rs 16,788 on January 8, 2021.

Last week, Dixon announced that it has entered into an agreement with Imagine Marketing Private Limited (boAt) for manufacturing of Twin Wireless Speakers.

The company shall be manufacturing the said products from its manufacturing facility located at Noida, Uttar Pradesh. boAt is the leader in the earwear segment. Their high quality audio devices are known for their style and efficiency.

On December 28, the company's wholly-owned subsidiary Padget Electronics entered into an agreement with Motorola for manufacturing of smartphones. The products will be manufactured at Padget's manufacturing facility situated at Noida, Uttar Pradesh, the company said. Padget Electronics is one of the few companies who recently received production linked incentive scheme (P/L scheme) approval from the government, it said.

Dixon Technologies (India) is engaged in manufacturing products in the consumer durables, lighting and mobile phones in India. Their diversified product portfolio includes consumer electronics like LED TVs; home appliances like washing machines; lighting products like LED bulbs and tubelights, downlighters; mobile phones; and CCTV & DVRs and medical equipment.

At 03:15 pm, the stock was up 2.5 per cent at Rs 14,892 on the BSE, as compared to 0.13 per cent gain in the S&P BSE Sensex. A combined 146,000 equity shares were changing hands on the counter on the NSE and BSE.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 14 2021. 15:17 IST
RECOMMENDED FOR YOU
.